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Ensco, Rowan to merge in $12bn enterprise value deal

Offshore driller Ensco and Rowan Companies, a leader in drilling services and a 50/50 partner in a joint venture with Saudi Aramco, have agreed to combine in an all-stock transaction taking the enterprise value of the merger to $12 billion. The definitive transaction agreement was unanimously approved by each company’s board of directors. The Saudi Aramco partner to the ARO Drilling joint...

Hydrogen Conference lays foundations for new era in clean energy

A conference at Aberdeen’s Double Tree by Hilton Hotels, organised by Environmental Resource Management (ERM) and Pale Blue Dot Energy in partnership with the Interreg North Sea Region HyTrEc2 project, Aberdeen City Council, H2 Aberdeen, Opportunity North East (ONE) and Scottish Enterprise, discussed the new opportunities that the Hydrogen economy could bring to the North East of Scotland earlier today. Keynote speakers included: Matt Hitchens – Senior Policy Advisor at BEIS, Stua...

Wood secures US$250 million in US midstream sector contracts

Wood has secured a string of new midstream sector contracts across the US, solidifying its place in what the company considers to be a key growth market. With a combined revenue of approximately US$250 million of new midstream sector work won year to date, Wood is delivering construction, fabrication, engineering, and operations and maintenance services to clients for a wide range of pipeline services, shale facilities, heavy civils, infrastructure and onshore engineering projects. Winning...

Estimated investments reduced by NOK 30 billion for projects in the implementation phase

Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion since the development plans were submitted to Norwegian authorities. This appears from the status for Norwegian projects under development published the Government’s national budget proposal for 2019. “We have successfully reduced the investment estimates by approximately NOK 30 billion since submitting the PDOs to the authorit...

Exxon prepares to drill off Cyprus

An ExxonMobil boss says the oil giant plans to drill offshore from Cyprus later this quarter, despite Turkey’s warnings that the rights of its Cypriot enclave cannot be ignored. Turkey, which recognises the Turkish-Cypriot pariah state and does not have diplomatic relations with the internationally recognised Republic of Cyprus, claims jurisdiction over part of the maritime territory. Exxon would start drilling in block 10 by the end of the year, ExxonMobil vice president Neil Chapm...

Contract Amendment signed with Shell

Further to our press releases of 18 and 30 May 2018, Awilco Drilling PLC is pleased to confirm that a contract amendment has now been signed with Shell UK Limited granting three additional options on WilPhoenix. Each option covers the drilling of a single exploration well within or at the end of the current decommissioning program. The options are to be declared by 31st August 2019. WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles and is equipped for...

Granite PR Shines Spotlight on UAE With Largest Ever Inaugural Gateway

Aberdeen-based Granite PR has continued its tenth anniversary celebrations by creating a platform for North East companies to explore growth opportunities in Abu Dhabi and the United Arab Emirates. The first ever Aberdeen-Abu Dhabi/UAE Gateway was held in association with SAMCO and M3 Marine Innovative Technology, and managed by Business Plus Scotland.  It took place in the city’s Macdonald Norwood Hall Hotel on Thursday, October 4th and welcomed an audience of 120 delegates. ...

Transocean’s Storm-Tossed Stock Can Ride Gains in Oil

Since topping out in 2008, Transocean has been where money goes to die. It might be ready to come back to life. The last decade has been painful for anyone who owned Transocean. The offshore driller’s shares have tumbled more than 80% over the past 10 years and have yet to recover from the drubbing they took first during the financial crisis, and then again when oil prices collapsed starting in 2014. With oil prices rising, however, Transocean’s stock, though volatile, appears...

At least 50 dead after oil tanker collision in DR Congo

At least 50 people have died after an oil tanker collided with a car on a major road in the west of the Democratic Republic of the Congo. The incident occurred near the city of Kisantu, between the capital Kinshasa and the port of Matadi. One hundred people suffered second-degree burns, Atou Matabuana, the governor of Kongo Central region said. "The flames spread rapidly engulfing nearby houses," the UN's Okapi radio reported. Roads in the central African nation have of...

Gas Fracking to start in the Northwest

Shale gas developer Cuadrilla Resources expects to start gas fracking in northwest England next week, seven years after its first attempt to hydraulically fracture a well led to earth tremors, public protests and an overhaul of regulations. The process, behind a surge in U.S. gas production, involves fracturing rock deep under ground using a mixture of water, sand and chemicals to encourage the flow of hydrocarbons from shale, a dense and tightly-packed sedimentary rock. It has draw critic...

Culzean FSO on station at North Sea location

Maersk Supply Service has completed hookup of the FSO Ailsa for Total at the Culzean field complex in the UK central North Sea. Eight vessels were involved in the marine operations with two new M-Class anchor handling tug supply ships used throughout the campaign. Tensioning of 12 50-metric ton (55-ton) anchors was completed from the Maersk Master in two mobilizations, the 723-metric ton (797-ton) mooring system being the highest tensioned in the North Sea to date (according to Maersk)....

Ground-breaking research supports technology adoption

The Oil & Gas Technology Centre and Aberdeen’s Robert Gordon University (RGU) have launched a new research programme to identify the behavioural barriers to successful technology adoption and deployment on the UK Continental Shelf (UKCS) and will create a toolkit to support both developers and operating companies. With lower prices, increased complexities and decommissioning challenges, the oil and gas industry requires new technologies more than ever. The Oil & Gas Technology C...

EnQuest Exercises Options With BP Over North Sea Fields

Oil & Gas company EnQuest PLC on Thursday said it has exercised its options with BP PLC relating to the Magnus field, as well as to the Thistle and Deveron fields in the North Sea.   Magnus is the UK's most northerly oil field, located 160 kilometres north east of the Shetland Islands. The Thistle and Deveron fields, which are only around 3 kilometres apart, are also to the north-east of the Shetland islands.   The acquisition of Magnus is expected to add USD500 mil...

Letter of award for power cables for Johan Sverdrup phase 2

Equinor and the Johan Sverdrup partnership submit a letter of award to NKT for fabrication and installation of two high-voltage cables supplying power from shore for the second phase of the Johan Sverdrup development. The letter of award is for an EPCI contract covering engineering, procurement, fabrication, installation and testing of two high-voltage power cables to the Johan Sverdrup field centre from shore. The high-voltage cables are 200 kilometres long and designed for a supply capac...

Neptune Energy Appoints Odin Estensen as Managing Director for Norway

05 October 2018:Neptune Energy today announces the appointment of Odin Estensen as Managing Director of its Norwegian business, based in Stavanger. Mr Estensen joins NeptuneEnergy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager. With morethan 28 years’ experience in the oil and gas sector, Mr Estensen started his career with Schlumberger before joining Shell in 1990, where he went on to hold various senior roles across Europe, and also to support operat...

Oil and Gas Releases Continue despite HSE Concerns

The offshore industry is failing to get to grips with the number of oil and gas releases at production facilities in the North Sea, according to a report. The latest figures from industry body Oil and Gas UK show that the number of escapes has remained steady at about 100 despite calls for improvements. The report said they had the potential to cause serious injury or death. In April, the Health and Safety Executive expressed concern about the number of gas releases in the industry....

Marathon Oil looks to exit North Sea

Marathon Oil has launched the sale of its British North Sea oil and gas fields, a document seen by Reuters showed, the latest U.S. firm to retreat from the basin to focus on onshore shale production at home. The sale includes stakes in the BP-operated Foinaven fields in the west of Shetland area as well as interests in the Brae complex northeast of Aberdeen, according to a sales document seen by Reuters. The process, launched this week, is being run by Jefferies and bids are due by Decembe...

Energy Insights forecasts transformation of gas import/export balance by 2022

London, UK, 4th October 2018: Energy Insights, the data and analytics specialist for the global energy industry, part of McKinsey & Company, has released its Global Gas & LNG Outlook to 2035. The report finds that continuous demand growth, alongside new supply sources, will transform the gas market import and export balances by 2022. This transformation will be driven by significant global gas demand growth of ~300 billion cubic meters by 2022, with Asia accounting for around 50 perce...

Oil discovery in the Norwegian Sea more than double the remaining Norne oil reserves

Equinor has, together with partners ENI and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 million recoverable barrels of oil. The discovery more than doubles the remaining oil reserves to be produced through the Norne field. Originally planned to be shut down in 2014, the productive life of Norne has already been extended to 2036, which will generate substantial spin-offs. This discovery will boost production in the...

Heerema awarded EPRD of Brae Bravo

Heerema Marine Contractors (HMC) and AF Offshore Decom (AFOD), together known as the HAF consortium, have been awarded a contract from Marathon Oil Decommissioning Services LLC for the Engineering, Preparation, Removal and Disposal (EPRD) services of the Brae Bravo Platform. The scope comprises of the topsides, the flare jacket & bridge and the main jacket. Koos-Jan van Brouwershaven, CEO HMC says: "At the start of the tendering process the teams set themselves a clear goal: We ar...
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